Propionic Acid Market
The calcium and sodium propionates segment is expected to hold the second position in the market , further followed by cellulose acetate propionate . The rising number of application of propionic acid , including food and beverages and pharmaceutical industries are anticipated to fuel the growth of the market in the next few years .
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Rising Demand for Food to Augment Propionic Acid Market in Asia Pacific From a geographical viewpoint , the global propionic acid market can be categorized into Asia Pacific , North America , Europe , and the Rest of the World . In 2012 , Europe led and accounted for a share of 39.9 % of the global propionic acid market . This region is expected to register a steady 2.10 % CAGR between 2013 and 2019 . The high growth of this region can be attributed to the ban imposed on antibiotic which has further likely to drive the demand for propionic acid in the next few years . Europe is expected to be followed by North America in the coming years .
Furthermore , Asia Pacific is expected to witness robust growth throughout the forecast period . The rising population and the growing demand for food and feed are some of the primary factors expected to augment propionic acid market in the coming years . In addition , the high contribution from India and China is estimated to accelerate the growth of the overall market . As per the research study , the rest of the world segment is expected to grow at a steady pace throughout the forecast period .
The global propionic acid market is extremely concentrated in nature with a few players holding a key share of the market . Some of the prominent players operating in the global market are Celanese Corporation , The Dow Chemical Company , Biomin Holdings GmbH , A . M Food Chemical Co . Ltd ., Daicel Corporation , Prathista Industries Ltd ., BASF SE , and Perstorp Holdings GmbH .
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